Service PMI data come in as forecasted

Source: Dukascopy Bank SA


The Institute for Supply Management has published the United States Manufacturing Purchasing Managers Index survey results on Services. The results are near the forecast, but still were enough to cause a surge of the US Dollar.

The survey results were expected to show a reading of 51.3, but the actual number is slightly higher- 51.5. In general, a reading below 50.0 is seen as bad for the sector and a reading above is seen as good.

Dollar has a strong move to the upside, and signalling confidence in US economy. Better service PMI's are overall better for the US dollar relative strength in the near future.
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